Everyone is making the country of Costa Rica out to be the savior and wronged party in the canceling of the concession of the country’s only “legal” gold mine, seeing as the concession was legally granted. (Yes, I know that the concession is being questioned.) Financial details that I have read indicate that Costa Rica is receiving a VERY sizable royalty in exchange for the concession. This is not a one-way street in exchange for a “favor” which apparently is what is being intimated and almost always assumed.
I have heard nothing about the illegality of the mine itself. Strip mining can be harmful to the environment but is that really the case here? I have heard only snippets of gossip here as well. What is apparently being questioned is HOW the concession was issued and should it have been.
The country of Costa Rica again, is backing out of an international business agreement where the country would benefit hugely by receiving very sizable royalties. The mining company in question, if ruled against, will most likely sue Costa Rica for huge amounts and which could very well be held liable financially for those amounts.
While virtually no one at this point can say whether or not the mining company actually did anything wrong, Costa Rica is ignoring the real facts and may be liable for a huge sum if ruled against. AGAIN, the country moves before actually looking at potential harm here as well as being considered anti investment.